Cyril Amarchand Mangaldas (CAM) and Pioneer Legal acted on PayU Payments Private Limited's acquisition of 43% stake in Mindgate Solutions Private Limited.
Cyril Amarchand Mangaldas advised PayU on this acquisition.
Pioneer Legal advised the promoters of Mindgate Solutions - Mr. George Sam Kavalackal and Guhan Muthuswamy on the transfer of a portion of their shareholding in Mindgate to PayU. The Firm advised and assisted the client on matters pertaining to structuring of the Transaction, negotiation and finalization of the definitive agreements and the closing of the Transaction.
The transaction team consisted of Shoubhik Dasgupta (Partner), Eishan Agnihotri (Principal Associate), Rugwed Dhage (Associate) and Saismrithi Balasubramanian (Associate).
PayU acquired a 43.5% stake in Mindgate Solutions at a valuation of approximately $200 million to $250 million.
This strategic investment allows PayU to enhance its presence in India's real-time payments sector and leverage Mindgate's expertise to drive digital payment innovations globally. The partnership aims to deliver secure and scalable payment solutions for banks, businesses, and merchants, contributing to the evolving global payments landscape.
PayU is the payments and fintech business of Prosus, a global consumer internet group and one of the largest technology investors in the world. PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology. In India, PayU serves more than 4,50,000+ merchants with over 100+ payment methods and is the preferred payment partner for e-commerce merchants, including all leading e-commerce companies and a majority of airline businesses.
Founded in 2008, Mindgate Solutions specializes in end-to-end real-time payment infrastructure and serves major banks in India, including State Bank of India, Punjab National Bank, and HDFC Bank. The company processes over 8 billion transactions monthly, facilitating payments worth $1 trillion annually.
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